SOLUTION: Market research has shown that at a price of $230, 100 number of plasma TV’s are sold and if the price is reduced to $190, then 200 number of TV’s are sold. Find the equation tha

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Market research has shown that at a price of $230, 100 number of plasma TV’s are sold and if the price is reduced to $190, then 200 number of TV’s are sold. Find the equation tha      Log On


   

Question 457353: Market research has shown that at a price of $230, 100 number of plasma TV’s are sold and if the price is reduced to $190, then 200 number of TV’s are sold. Find the equation that represents this demand curve and state in the form of p=mx+b (Slope Intercept Form of a Linear Equation).
I came up with a few possible answers for this question.

m=(p2-p1)/(x2-x1)=(190-230)/(200-100)= -2/5
p= -2/5x+b
b=270
p= -2/5x+270
p=-0.4+270 or would I leave it as -2/5x+270? Im really confused!!!
Answer by lwsshak3(11628) About Me  (Show Source):
You can put this solution on YOUR website!
You did the problem correctly, figuring out the slope and y-intercept. There is no difference between expressing the slope in decimal or fraction form.